Mankato, MN is a great place to live. It has several large companies, such as Mayo Clinic Health System, Minnesota State University, ISG Technology Solutions, and Verizon Wireless. The cost of living is lower than the US average – 2 bedroom rent in Mankato is $1,140 while it’s $1,430 in the US. Grocery prices are also relatively low with an index rating of 99 compared to 100 for the US. These factors make Mankato a desirable option for those looking to move. There are plenty of restaurants and shops to explore in downtown Mankato that can provide you with all your needs. In addition to these larger companies there are many smaller local businesses that are thriving in the area such as Great River Arts Gallery & Studios, Stately Pet Supply Company, Cleary Lake Regional Park, and more.
Mankato has an unemployment rate of 3.7%. The US average is 6.0%.
Mankato has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 38.7%, which is higher than the US average of 33.5%.
Tax Rates for Mankato
- The Sales Tax Rate for Mankato is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Mankato is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Mankato
- The average income of a Mankato resident is $23,249 a year. The US average is $28,555 a year.
- The Median household income of a Mankato resident is $56,274 a year. The US average is $69,021 a year.